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UK Prime Minister candidate Sunak plans to cut energy bills by £200.


Former UK Finance Minister Rishi Snackvying to be the country’s next prime minister Thursday Utility coststo cope with rising costs of households.
Writing for The Times, he said the value-added tax (VAT) cut would save all households about £200 ($244) on their energy bills.
The UK is preparing for already high energy prices to more than triple this year, pushing millions of people into poverty unless the government launches a multi-billion pound aid package to cushion the blow. The charity warns that it could fall into
Snack, the underdog in the battle for leadership next to top runner Liz trusssaid his plan would cover “helping the most vulnerable, helping pensioners, and helping everyone.”(https://bit.ly/3K3rIYx)
The former finance minister said people in the most vulnerable groups and pensioners would get money to cover energy costs through welfare schemes.
Sunak also said it would cover the costs of the scheme by promoting a program to identify savings across the government. “It could mean that some things in government have to be stopped or suspended.”
He added that he was ready for “limited temporary interim borrowing as a last resort to get through this winter.”
“Given that energy prices continue to rise, it is likely that the government will earn more from the energy profits tax that I have introduced,” he added, adding that he previously introduced oil as finance minister. and a 25% windfall tax on gas producer profits.
Sunak’s rival, Foreign Minister Truss, has so far said he favors lower taxes on households rather than collecting cash back through energy subsidies.
Truss said Wednesday that he would work with energy companies to bring down prices if he became prime minister. Critics say the tax cuts will favor the richest rather than the poorest.

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